No flying pig here.

Market Morsel

The 30 year average deflated price for Australian pigs sits at 415c/kg Hot Standard Carcass Weight (HSCW), meanwhile the Australian Pork Limited (APL) Eyes & Ears report has pig pricing at an average of 358c/kg HSCW for September 2023. This is nearly a 14% discount to the long term average price in 2023 dollar values.

The normal range in pig pricing, as outlined by the 70% grey shaded range is between 365c/kg HSCW t0 465c/kg HSCW so we have just drifted under the normal range during September. Pig pricing would be considered extreme when it is outside of the 95% range, which is above 510c/kg HSCW or below 320c/kg HSCW. Historically, deflated pig pricing has only been outside of the 95% range for 5% of the time since the early 1990s.